The owner/company on title owes me additional money so I may need to use it for leverage to collect on the bigger amount. 

To make the loan secured you need a deed or trust or a mortgage in addition to the promissory note.You should consult an attorney to make sure your IRA interest is protected.

Any additional help is greatly appreciated.

Cost would be minimal to level the house on the foundation compared to leveling the foundation. 

As a example if you purchased a new build property and sold after 5 years your expenses would be minimal but over the next 40 years of ownership that number would most likely be in the average range of say 40% - 60%.  

I would double check with your accountant on that though as you don't want a nasty surprise down the road (and you know what they say about assumptions).As far as Providence & the East Side, I attended a neighborhood meeting a few weeks ago with some people from the neighborhood and some folks from the Providence Building Department.It does sound like they are leaning in favor of some additional regulations for AirBnBs in Providence, which may involve needing to get a special permit.

Additionally you need to learn where that is because sellers don't care that 10 blocks north is a descent area and they're selling in murder alley to them they just want to "get" you and they hope you don't know where the delineating streets are.

Certificate of Formation is filed with the Secretary of State    -  Additional later of defense: file it under an Agent Trust with yourself as a member - your name does not appear on the public filing, making it a needle in a haystack for anyone trying to find your assets.3.

I don't know what your past construction experience is (or if you're handy at all) but if it's minimal, then I would stick to rehabs first (doing cosmetic renos, then more complicated as you aquire and rehab) then go into new construction. 

If there's no additional credit check fee for both the applicant and guarantor, then it's included and so it would actually be on the low side.